No one really bothers checking sales data before posting, do they?
The Xbox 360 hardly "spiked" when the price dropped in Europe. It began to consistently sell well above normal trends - both before the price cut, and YOY versus last year. The X360, day and date, has sold 100% more units than last year.
http://vgchartz.com/hwcomps.php?cons1=X360®1=Total+Other&cons2=PS3®2=Total+Other&cons3=X360®3=Total+Other&start=39334&end=39698
Overall, the issue is that the price cuts have indeed helped the X360 become a far better competitor in Europe than it was. Problem is, the Playstation 3 and Wii are doing much better as well, which is hurting the X360's case in Europe: What's better? Selling 100% more units when your competitors are still winning, or selling a low # of units, but so are your competitors?
IMO, the price cut will help the X360 become more competitive in Europe. Weather or not it beats the PS3/Wii for any period of time, I feel may be doubtful, but it's going to help. Even if the X360 has a small increase in trends vs. what it has been, it may be enough to allow the X360 to beat the PS3 worldwide this Christmas.
Back from the dead, I'm afraid.
